In a blog post last year I estimated that Microsoft had missed out on billions of dollars in revenue by not releasing Office for the iPad. Morgan Stanley’s Adam Holt seems to have the same opinion.

The most important thing from this situation is not only that Microsoft is missing revenue, but that they are training a generation of mobile device users how to survive without Office. I imagine most users do not need the fully functional Office suite for their mobile needs, and now they know it.

Microsoft leaving $2.5 billion per year on the table by holding back Office from iPad.

What’s $2.5 billion?